SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-K/A
(Mark One)
[X] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the fiscal year ended September 30, 1998 or
[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from to
Commission File Number 1-9789
TECH/OPS SEVCON, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 04-2985631
------------------------------ ----------------------
State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification Number)
ONE BEACON STREET, BOSTON, MASSACHUSETTS 02108
-----------------------------------------------------
(Address of Principal Executive Offices and Zip Code)
Registrant's Area Code and Telephone Number (617) 523-2030
Securities registered pursuant to Section 12(b) of the Act:
(Name of Exchange
(Title of Each Class) (on Which Registered)
- -------------------------------------- -----------------------
Common stock, par value $.10 Per Share American Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained,
to the best of Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this form 10-K. [X]
1
As of November 25, 1998, 3,107,873 common shares were outstanding, and the
aggregate market value of the common shares (based upon the closing price
on the American Stock Exchange) held by non-affiliates was approximately
$33,500,000.
Documents incorporated by reference: Proxy Statement for Annual Meeting of
Stockholders - January 27, 1999 - Items 10, 11, 12 and 13.
2
AMENDMENT NO.1
The registrant hereby amends Item 8 of its Annual Report on Form 10-K
for the fiscal year ended September 30, 1998 by revising the Report of
Independent Public Accountants to expressly cover the consolidated
statements of comprehensive income included in Item 8 as follows:
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To Tech/Ops Sevcon, Inc.:
We have audited the accompanying consolidated balance sheets of Tech/Ops
Sevcon, Inc. (a Delaware Corporation) as of September 30, 1998 and 1997,
and the related consolidated statements of income, comprehensive income,
stockholders' investment, and cash flows for each of the three years in the
period ended September 30, 1998. These financial statements are the
responsibility of the Company's management. Our responsibility is to
express an opinion on these financial statements based upon our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of Tech/Ops Sevcon, Inc.
as of September 30, 1998 and 1997, and the results of its operations and
cash flows for each of the three years in the period ended September 30,
1998 in conformity with generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The schedule listed in the index of
financial statements is presented for purposes of complying with the
Securities and Exchange Commission's rules and is not part of the basic
financial statements. This schedule has been subjected to the auditing
procedures applied in the audit of the basic financial statements and, in
our opinion, fairly states, in all material respects, the financial data
required to be set forth therein in relation to the basic financial
statements taken as a whole.
ARTHUR ANDERSEN LLP
Boston, Massachusetts
November 3, 1998
3
SIGNATURE
Pursuant to the requirements of the Securities Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TECH/OPS SEVCON, INC.
By /s/ Paul A, McPartlin September 13, 1999
--------------------- ------------------
Paul A. Mc Partlin
Vice President and Chief
Financial Officer
